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Title : Alio Gold (ALO.to) and the lender of last resort
link : Alio Gold (ALO.to) and the lender of last resort

Alio Gold (ALO.to) and the lender of last resort

This is a classic Rick Rule deal: With very little risk to his company (because he's already worked out how long Alio Gold (ALO.to) can remain in production before the financials ruin it completely) he turns $15m into $20m in three years. It's great business, I mean how many mining equity investments have given you a +10% column in your port for three years running? Meanwhile ALO.v just told the world how bad its financial situation is, even with U$1,500/oz gold. Highly doubt Rule has assumed he'll get 80c for his 1.22m ALO.v shares in 121 days' time. 

Key Terms of the Facility are:

• Principal Amount of $15 million;
• Maturity date of October 31, 2022;
• Interest rate of 8% plus the greater of LIBOR and 2%;
• Amortization of the Facility in eight equal quarterly payments commencing January 31, 2021;

In conjunction with closing of the Loan Facility, Alio Gold has issued 1,286,228 shares to Sprott.

Full NR here.

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